Royal Caribbean expects $50M in synergies from Silversea Cruises partnership
Says Silversea Cruises investment complements current offerings and provides tremendous opportunity for growth. Says will be able to offer all-suite, all-inclusive ultra luxury trips for customers. Says partnership provides immediate access to burgeoning luxury and expedition markets and opportunity for long-term capacity growth. Says believes company can leverage global footprint of combined companies to generate demand and increase vacation and destination options. Says believes can drive meaningful savings in a number of areas. Says expects transaction to elevate leverage 'a little bit'. Says expects significant synergies by leveraging global footprint, supply chain, purchasing power and other economies of scale. Expects at least $50M of synergies through partnership. Says bookings for Q3, Q4 remain strong. Comments taken from Royal Caribbean conference call.